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20130124
20130201
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. madam president, the american people are asking when are we going to turn to the spending side of the equation. president obama talked all through the campaign of balance. well, we've had the tax increases. now we're having the debt increases. when are we going to have any new spending cuts? this would at least start in a modest way reasonable spending cuts. thank you, madam president. the presiding officer: would the senator call up his motion. mr. vitter: yes, madam president. i call up the motion to commit. the presiding officer: the clerk will report. the clerk: the senator from louisiana, mr. vitter, moves to commit the bill, h.r. 325, to the -- mr. vitter: madam president, i ask to waive reading of the whole. the presiding officer: without objection. mr. baucus: madam president? the presiding officer: the senator from montana. mr. baucus: madam president, we've -- we've essentially already voted on this. this is very similar to the portman amendment which lost by a vote of 54-44. this approach was rejected by the house of representatives when the speaker sent over his deb
reported that -- a few weeks ago president obama reportedly said that america doesn't have a spending problem. this is completely at odds with what independent experts tell us and what is perfectly apparent to anybody who is alert. and last week i brought this chart behind me to the floor to illustrate the point. as everyone knows, we're running trillion-dollar annual deficits. what this chart shows is the gap between government spending and revenue just keeps getting wider and wider and wider. so let's take a look at it. the occupant of the chair is relatively new to the senate, but not new to the facts. the green area here represents both historic and projected tax revenue. the blue area here, the dark blue area, as you can see, really kind of flat line flatlit here to 2014, is the new revenue that the president got at the end of the new year as a result of the law. the tax rates sunsetted, expired at midnight on new year's eve. the congress then wisely continued the current tax rates for 99% of americans, made those rates permanent so you wouldn't have another event like new year's
income, and spending is obvious because a surreal driver of our deficits and our debt. spending is the reason that we're up against the $16.2 trillion debt limit. spending was the reason that congress and president obama raised the debt ceiling by $2.1 trillion just a year and a half ago. now, in 2006, the junior senator from illinois, senator obama, came to the floor, made a very passionate and thoughtful statement here on the senate floor in opposition to raising the debt limit. many of the reasons that he gave then are relevant today. in fact, they are even more appropriate because the national debt is much, much higher. and we have a fiscal mess. it's instructive for my colleagues to hear the words straight from then-senator obama. he delivered these remarks on march 16, 2006. at that time the senate was debating raising the debt limit by $781 billion to a new limit then that seems very small today, about half what it is today, raising the limit of 2006 to $8.9 trillion. so i thought it would be worth for the president's benefit as well as our benefit to go over what then-se
Search Results 0 to 2 of about 3